The journal entry to recognize Baginski’s 2025 tax expense includes a Debit to Income tax expense and Credit to Income tax payable.
<h3>What is a tax expense or benefit?</h3>
The tax expense refers to the total amount of taxes owed by an individual, corporation or other entity to a taxing authority while the tax benefit refers to the refers to any tax law that helps one reduce tax liability.
In accounting, the companies record an income tax expense as a debit and income tax payable as a credit in journal entries.
<h3>Journal entry to recognize Baginski’s 2025 tax expense or tax benefit.</h3>
Date General Journal Debit Credit
Income tax expense $62,500
($250,000 * 25%)
Income tax payable $62,500
(To record the tax expense for 2025)
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Hope this helps!!
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he should draw a baseball field shaped diamond to represent how far the door will swing, if the door would go farther than that he should move the diamond and stretch it farther.
Explanation:
Answer:
The process through which artists strive to create images that approach perfection, according to the ideals of their culture and time.
When the edge where two colors meet or the line formed by a row of people waiting